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> The amount of money WU is skimming off the top must be a non-negligible percentage of the country's GDP. 20% of El Salvador's GDP is remittances, and WU take
by mumblemumble 5y ago
> The amount of money WU is skimming off the top must be a non-negligible percentage of the country's GDP.
20% of El Salvador's GDP is remittances, and WU takes a 5-10% cut. I don't know how much of that business WU controls, so let's pick a range out of a hat: 75%.
That would imply that WU fees represent something in the neighborhood of 1% of the country's total GDP.